scholarly journals Granger Causality between Stock and Gold Returns – Evidence from Poland, Hungary and the Czech Republic

2021 ◽  
Vol 55 (3) ◽  
pp. 67-80
Author(s):  
Katarzyna Mamcarz
Keyword(s):  
Czech Republic ◽  
Granger Causality ◽  
The Czech Republic

scholarly journals Analysis of Interrelationships between Markets of Fuels in the Visegrad Group Countries from 2016 to 2020

Energies ◽  
2021 ◽  
Vol 14 (20) ◽  
pp. 6536
Author(s):  
Anna Górska ◽  
Monika Krawiec
Keyword(s):  
Czech Republic ◽  
Statistical Analysis ◽  
Granger Causality ◽  
Price Changes ◽  
The Czech Republic ◽  
Fuel Prices ◽  
Visegrad Group

A fuel market is an important sector of the economy and fuel prices influence the prices of numerous products and services. This paper focuses on the analysis of the interrelationships between markets of fuels in the Visegrad Group (V4) countries. The research is based on weekly prices of Pb95 gasoline and diesel in the Czech Republic, Hungary, Poland, and Slovakia observed from January 2016 through December 2020. After performing the preliminary statistical analysis, the long-term relationships between the prices of fuels are investigated through application of the cointegrated regression Durbin–Watson (CRDW) test. Next, Granger causality is tested to answer the question of whether changes in prices of fuels in separate V4 countries Granger-cause changes in prices of fuels in other V4 countries. The cointegration research uses logarithmic prices, whereas causality investigation is based on their first differences. The results reveal long-term relationships between the prices of Pb95 gasoline in the Czech Republic and prices in other V4 countries as well as Granger causality flowing from diesel price changes in Poland to diesel price changes in other V4 countries and bilateral causation between changes in the prices of Pb95 gasoline in Poland, Hungary and Slovakia.

scholarly journals The Connection between the Exchange Rate and the Balance of Payments Accounts in the Czech Republic: An Econometric Approach

2017 ◽  
Vol 8 (1) ◽  
pp. 58-71
Author(s):  
Tomáš Urbanovský
Keyword(s):  
Exchange Rate ◽  
Czech Republic ◽  
Granger Causality ◽  
Current Account ◽  
Balance Of Payments ◽  
Nominal Exchange Rate ◽  
Current Account Balance ◽  
The Czech Republic ◽  
Financial Account ◽  
The Current Account

Relationships between the nominal exchange rate, the current account and the financial account of the balance of payments in the Czech Republic are investigated in this presented paper. The implemented cointegration analysis and vector error correction model suggest one pair of Granger causality. It has been discovered that change in the current account balance Granger-causes a change in financial account balance. This relationship has the nature of two-way Granger causality, which means that a reversed relationship holds as well. Other relationships implying Granger causality were not found. Error terms were significant only in regressions with both accounts as dependent variables, which imply that only these variables return to their long-term equilibria. Because an increase in financial account surplus leads to a decrease in current account surplus (or deepening the current account deficit), excessive liberalization of the Czech financial system can lead to a large capital inflow, jeopardizes current account sustainability and results in a currency crisis in the Czech economy.

scholarly journals Granger Causalities Between Interest Rate, Price Level, Money Supply and Real Gdp in the Czech Republic

2017 ◽  
Vol 65 (2) ◽  
pp. 745-757
Author(s):  
Tomáš Urbanovský
Keyword(s):  
Exchange Rate ◽  
Czech Republic ◽  
Interest Rate ◽  
Granger Causality ◽  
Money Supply ◽  
Price Level ◽  
Macroeconomic Policy ◽  
The Czech Republic ◽  
Macroeconomic Variables ◽  
Real Gdp

The main aim of this paper is to investigate relationships between selected macroeconomic variables – interest rate, price level, money supply and real GDP – in the Czech Republic in order to find out definite implications of its interactions and give recommendations to macroeconomic policy authorities. Two implemented vector autoregression models with different lag length reached slightly different conclusions. VAR(1) suggests that three pairs of Granger causality exist, in particular between price level and interest rate, between real GDP and interest rate and between real GDP and price level. VAR(2) uncovered two more pairs of Granger causality between money supply and interest rate and between money supply and price level. Despite better prediction power of VAR(2) in case of money supply, low correlation coefficient comprising variable money supply raises doubts about the factual existence of causality between money supply and other variables. However, both models allow forecasting the direction of change in case of variables interest rate and real GDP with the same success rate nearly 82 %. Both VARs also agreed that interest rate could be changed by change of price level and that interest rate could be changed by change of real GDP. These conclusions represent potential recommendations to macroeconomic policy authorities. For the purpose of further research, exchange rate variable will be included in the model instead of interest rate, because effect of interest rate turned out to be limited in times of weakened state of Czech economy.

Social variation in size at birth and preterm delivery in the Czech Republic and Sweden, 1989-91

1998 ◽  
Vol 12 (1) ◽  
pp. 7-24 ◽  
Author(s):  
Koupilova ◽  
Vagero ◽  
Leon ◽  
Pikhart ◽  
Prikazsky ◽  
...  
Keyword(s):  
Czech Republic ◽  
Preterm Delivery ◽  
The Czech Republic ◽  
Social Variation ◽  
Size At Birth

On Geropsychology in the Czech Republic

GeroPsych ◽  
2012 ◽  
Vol 25 (3) ◽  
pp. 161-166
Author(s):  
Hana Stepankova ◽  
Eva Jarolimova ◽  
Eva Dragomirecka ◽  
Irena Sobotkova ◽  
Lenka Sulova ◽  
...  
Keyword(s):  
Czech Republic ◽  
Clinical Practice ◽  
Old Age ◽  
Cognitive Rehabilitation ◽  
The Czech Republic ◽  
Rehabilitation Research

This work provides an overview of psychology of aging and old age in the Czech Republic. Historical roots as well as recent activities are listed including clinical practice, cognitive rehabilitation, research, and the teaching of geropsychology.

Contemporary Psychology in the Czech Republic

2000 ◽  
Vol 5 (1) ◽  
pp. 62-65 ◽  
Author(s):  
Jiří Hoskovec ◽  
Josef M. Brožek
Keyword(s):  
Czech Republic ◽  
The Czech Republic

Notes on the Oak-hornbeam forest communitier of the Czech Republic

1994 ◽  
Vol 105 (7-8) ◽  
pp. 481-497
Author(s):  
Z. Neuhäuslová ◽  
J. Kolbek
Keyword(s):  
Czech Republic ◽  
The Czech Republic
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